Answer: Debit Interest Receivable and credit Interest Revenue, $2950
Explanation:
Based on the information given in the question, we have to calculate the interest accrued and this will be:
= $590,000 × 6% × 1/12
= $590,000 × 0.06 × 0.08333
= $2949.882
= $2950 approximately
Therefore, the adjusting entry that Sandhill should make on December 31, 2020 will be to:
Debit Interest Receivable and credit Interest Revenue, $2950
The statement is true. The present value of a future sum decreases as either the discount rate or the number of periods per year increases, other things held constant.
Future cash flows are reduced by the discount rate, so the higher the cut price fee the lower the existing fee of the destiny coins flows. A lower discount rate leads to a higher present value. As this implies, whilst the discount price is better, cash in the future will be worth less than it's far nowadays.
Preserving other factors steady, as the interest price will increase, the present cost of an quantity to be received at the end of a fixed duration decreases. This means at a higher hobby price the present value of a future cash float falls. Decrease the prevailing price is. inversely related. growing the discount price decreases the present price and vise versa. Future value of that investment.
The prevailing value of a destiny lump sum decreases as the discount fee used decreases, All else held constant. the present cost and discount rate are inversely associated. If the destiny cost and the range of periods are held steady the prevailing price will lower as the cut price rate increases.
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Answer:
Accounts Receivables Turnover Ratio = 
= 10 times.
Explanation:
Accounts Receivables Turnover ratio = 
Here Net Credit Sales = $6.5 million
Accounts Receivables Opening Balance = $600,000
Accounts Receivables Closing Balance = $700,000
Average Accounts Receivable Balance = 
Accounts Receivables Turnover Ratio = = 10 times.
This shows that accounts receivables are on an average 1/10th of credit sales.
Final Answer
Accounts Receivables Turnover Ratio = = 10 times.
Answer:
$20,000
Explanation:
The small investment in equities and bonds must be valued at market value and must not be accounted for in-accordance with the speculation of the company. So the market value here is $20,000 and must be valued at this price irrespective of the management valuation.
